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John Hancock Comvest Private Income Fund

What Do They Do?

Provides senior secured loans and other credit to middle-market businesses, and offers fund shares to investors.

How Do They Make Money?

The Fund earns interest as it builds up on loans; collectible payment-in-kind interest is added to principal and generally comes due at maturity or when the issuer determines. It also earns fees for arranging, monitoring and other loan services, and may receive prepayment fees when a loan is repaid.

FY2025 revenue

Who Are Their Customers?

The Fund lends to privately owned middle-market businesses, including private-equity-backed and non-sponsored borrowers. Investors buy shares through participating brokers and financial advisers.

Do Revenues Turn Into Profits?

Yes. It kept 98 cents of every revenue dollar as net income in FY2025.

Net income, FY2025
98% of revenue
▲ +357% vs FY2024 ($7.5M, 125%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +24%
vs $8.6M in Q2 FY2025
Net income
▲ +83%
vs $6.2M in Q2 FY2025
  • Jun 23, 2026 Agreed to merge with Manulife Private Credit Fund Under the agreement, a subsidiary would merge into MPCF, followed by MPCF merging into the Fund; shareholder approvals and other closing conditions apply.

Growing. Revenue grew 5.8x in 1 year, from $6M in FY2024 to $35.2M in FY2025, about 484% a year.

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